Innovative consumer banking-银行essay

VOUCHERS AND ACCOUNTS:

Vouchers are made for records and they should be completed in all respects: the amount, Date, its Head, Particulars, Amount in words, authorized signatures and contra advice or voucher should be present. Vouchers are advice either debit or credit slips. They are contra of each other. If any voucher of debit is passed its contra credit voucher should also be passed for the balancing of accounts, their respective sheets.

CLEARING:

1. INWARD CLEARING:

It depends on those checks that are cleared inter branch and with in the city. As the concerned branch receive any type of clearing check first of all physical checking is taken place. For clearing procedure there should be two days margin. These checks have their vouchers and the amount of the check and voucher should be identical. Than these checks are stamped and noted on receiving sheet as well as feed in to the computerized system.

2. OUTWARD CLEARING:

It depends on those checks that are cleared out side the city. For outward clearing checks are send because the home branch has there accounts but checks are of other banks. Contra of these checks are vouchers that are recorded in the home branch.

TOKEN:

Token is the process of different steps of checking of the cheaques:

1. PHYSICALLY CHECKING:

First of all the cheaques is physically checked:

2. DATE:

It should not be advanced of the latest date. Date should be limited to only past six months.

3. AMOUNT:

Amount in words and figures should be written in clear writing. Any kind of over writing and cutting should be prevented. Other wise it could not be passed and returned to the customer.

3.PAYEES / BEARER CHEAQUES:

If the cheaques are payees’ accounts head or they have marked bearer then these cheaques are not labeled token.

4. VERIFICATION OF SIGNATURES:

Signatures are checked as well as verified. In case of other representative of the account holder brings the cheaque then two signatures of that person are taken.

5. STAMPS:

After physical checking of the cheaques they are stamped.

6. TOKEN NUMBER:

As the cheaques are stamped token numbers are issued for the payment of either cash or transfer of amount in the account.

7. NOTING:

As the cheaques are stamped and token numbers are issued they are also recorded as well as noted in the token number register. A serial number from the token register is generated that should be same of the token being issued. If any cheaque that is recorded wrong then that number is cancelled and the token is placed at other place or returned in the cash department.

ISSUANCE OF CHEAQUE BOOKS:

Any account holder that has opened the account he/she could credit his/her account and for this purpose there should be a cheaque book, so he/she could be able to credit the needed amount whenever he/she wishes. For the issuance of the cheaque book a person is advised to fill a requisite slip with his/her full name and the account number with two verified signatures. These signatures are checked and then another requisite slip prepared by the bank staff send to the NIFT, and it issues the printed cheaque books after completion of the procedure in two or three days.

Account holder can take it by signing on the issuance register or if the absence of the account holder another person could also take the cheaque book only if he/she has authorized signature of the account holder.

When the cheaque boobs are issued they are feed in the computer system from the requisite slip so when the cheaques are given for the credit/transfer of amount they could checked. In this way neither the cheaques could be repeated nor the invalid cheaques could be claimed.

ISSUANCE OF ATM CARDS:

Head Office issues ATM (Auto-Teller Machine) cards with their PIN (Personal Identification Number) Codes and when the customer claims for their ATM card they are checked from the list that is also issued from the Head Office. And the claim is checked from the list and if the name is found than the cards are issued by taking a signature and their PIN codes are also given to them by taking signatures on their ATM card forms. The ATM card has been activated by the number provided at or with the specific card.

CANCELLATION OF ATM CARDS:

The cancellation of ATM cards become necessary in the following conditions:

1. If folded or damaged
2. Stolen
3. PIN code missed or forgotten
4. Card captured by the machine and expired
5. If requested by the customer

The cancellation or inactivity of the card is being processed by the request or instructions provided from the customer.

RUPEE TRAVELERS CHEQUES :

1. PURCHASE OR ENCASHMENT OF RTC:

1. The first step before encashing the traveler cheaque is to make sure that the RTC is valid means that it is neither stolen nor lost.
2. In the second step the bank take the ID card copy and proof of the purchase of the RTC’s from the person.
3. In this step we make sure that the signature and name of the concerned person and also of the IBS signatures are present.
4. If the amount required to be transferred in the persons account then the transfer stamp as well as payees account stamp has been put other-wise cash has been handed over to the person by putting cash stamp on the RTC.

2. SALE OF RTC:

The selling of the RTC has been described in step-wise as follows:

1. In this step the bank initially seeks the information whether the person is going to purchase the RTCs on cash or on account basis. If the transaction is held on cash then simply after taking the cash the RTCs been issued, but if the transaction is based on account then initially the cheaque has been cleared than if the amount is sufficient than RTC has been issued after deducting the amount from the account.
2. If the amount of RTC is more than Rs. 25000 then tax has levied by 0.3% in case of absence of the tax deduction form.
3. After this the bank handed over a form for RTC sale duly filled by the concerned person. And after this RTC number has been noted on the form as well as their amount and quantity.
4. After this we note down the sold RTC in the concerned register.

SHORT NOTICE TERM DEPOSIT (SND):

These are for short times either for seven days or for thirty days and the profit is calculated by the given percentage from the head office at the payment time. If the customer fails to complete the duration of 7 days or 30 days then no profit is given.

If any amount is outstanding, only in case of automatic continuity, then the profit is calculated for the whole period by the rate given from the head office multiplying from the numbers of days divided by the 365 for the one-day profit.